518.720.8888Troy • Saratoga Springs • Amsterdam

 

News & Insights

Medicare Part D Disclosures Due by March 1, 2017 for Calendar Year Plans

 Group health plan sponsors are required to complete an online disclosure form with the Centers for Medicare & Medicaid Services (CMS) , indicating whether the plans prescription drug coverage is creditable or non-creditable. For calendar year plans, the 60 day deadline is March 1st. To read entire article click here.

Stay Protected From Phone Tax Scams: 5 Red Flags to Avoid

Tax season is fast-approaching, which means big opportunity for scammers.  Are you doing everything you can to educate your employees about these risks?  Utilizing these key resources will ensure you are not being taken advantage of. To read entire article click here.

Trump Signs Executive Order on the ACA as His First Act as President

On Jan. 20, 2017, President Donald Trump signed an executive order addressing the Affordable Care Act.  The order states that it is intended to ‘to minimize the unwarranted economic and regulatory burdens’ of the ACA until the law can be repealed and eventually replaced. To read entire article click here.

New Law Allows Stand-alone HRA’s for Small Employers

A new law signed last month allows employers that do not maintain group health plans to establish stand-alone health reimbursement arrangements (HRA’s), effective for plan years beginning on or after Jan. 1, 2017. This new type of HRA is called a ‘qualified small employer HRA’ (or QSEHRA). To read entire article click here.

DOL Overtime Rule Blocked

A preliminary injunction halting enforcement of the Department of Labor’s (DOL’s) overtime rule means employers can continue to follow current mandates until further notice. Employers who already adjusted salaries and employee classifications could roll back those changes. To read entire article click here.

Still Time To Make Your 2016 HSA Contribution

For those filing taxes without an extension, the deadline for 2016 HSA contributions is April 15, 2017. Individual annual limit is $3,350 and $6,750 for individuals with family coverage. Those over age 55 may make an additional $1,000 “catch-up” contribution. The 2017 contribution limit is $3,400 and $6,750 respectively. To read entire article click here.

2016 Election and Compliance Issues

Republican candidate Donald Trump has been elected the 45th president of the United States, and Republicans have retained control of the Senate and the House of Representatives. It is likely that some changes will be made to the ACA and other compliance issues over the next four years.   To read entire article click here.